Core Insights - The UAE's non-oil private sector showed continued improvement in business conditions in October, but the growth rate slowed compared to the previous month [1] - The S&P Global Purchasing Managers' Index (PMI) decreased from 54.2 in September to 53.8 in October, indicating that growth momentum remains above the mid-year average [1] - New orders surged, driving output higher, but employment growth slowed to its lowest level in seven months [1] Economic Indicators - The PMI for Dubai rose to 54.5, the highest level since January of this year, reflecting increases in new orders and output despite moderate employment growth [1] - Companies benefited from a second consecutive month of slowing cost increases, allowing output prices to remain stable [1] - There is a noted decline in optimism regarding future business prospects, leading to nearly stagnant hiring [1] Employment and Confidence - Employment growth has reached its lowest level in seven months, indicating potential challenges in labor market dynamics [1] - Business confidence is reported to be at its lowest level in nearly three years, as noted by S&P Global's senior economist David Owen [1]